For each production function shown below, a)prove algebraically whet.pdf

•

0 gefällt mir•4 views

For each production function shown below, a)prove algebraically whether the function satisfies increasing, decreasing, or constant returns to scale and b) describe the organization of an industry represented by such a function (for part b, I am expecting you to comment on both the typical firm size as well as the general number of firms expected in the industry) i. ??(??,??) = (4/3)L^.5 + 16KL^.25 ii. ??(??,??) = 2??^2 + L iii. ??(??,L) = K^.33 + 3sqrt KL + 2/3L Solution As the equations are not stated properly few assumptions have been made in the equations. (a) First Function: Q = 4/3L0.5+16(KL)0.25 We will increase both K and L by m and create a new production function Q. Then we will compare Q to Q. Q = 4/3(mL)0.5+16(m2KL)0.25 = (m0.5)4/3L0.5+(m0.5)16(KL)0.25 = (m0.5) (Q) Increasing the factors of production by m, output incrreases by half of m. Hence decreasing return to scale exists. Second Function: Q = 2k2+L Q-L=2k2 m(Q-L) = 2mK2.............eq1 Again increasing both K and L by m and create a new production function Q. Q = 2(km)2+Lm = m(2mk2+L) = m(mQ-mL-L) (from eq1) = m2(Q-L-L/m) Hence increasing return. Third Function : Q = K + 3sqrt KL + 2/3L increasing both K and L by m and create a new production function Q. Q = mK + 3msqrt KL + m2/3L = m(K + 3sqrt KL + 2/3L) = mQ Hence constant return to scale exists. (b) Lets take a public accounting industry. Very largest accounting firms represnts either decreasing or constant return to scale, smaller frims face increasing return to scale..

Bildung

Weitere ähnliche Inhalte

Ähnlich wie For each production function shown below, a)prove algebraically whet.pdf

8th Semester Mechanical Engineering (June/July-2015) Question Papers

BGS Institute of Technology, Adichunchanagiri University (ACU)

22424roduction Slides 33623-1.ppt

MuskanKhan320706

Functionsbsitact

Juan Apolinario Reyes

Econ 281 Chapter06.ppt

KRISHNARAJ207

3rd Semester Mechanical Engineering (June-2016) Question Papers

BGS Institute of Technology, Adichunchanagiri University (ACU)

8th Semester Mechanical Engineering (June-2016) Question Papers

BGS Institute of Technology, Adichunchanagiri University (ACU)

Eco

ry1186

CH6 Production.pptx

KashfiaIbrahim2

Production analysis me

pushpa latha

Unit 2

Tufail Ahmed

simba nyakdee nyakudanga presentation on isoquants

Simba Nyakudanga

Gregory mankiw macroeconomic 7th edition chapter (3)

Kyaw Thiha

16083116

Sou Tibon

Units 2&3 prod. & cost functions

manojprabak

By Andy Wingo. Is there life beyond phi variables and basic blocks? Andy will report on his experience using a new intermediate representation for compiler middle-ends, "CPS soup". The CPS soup language represents programs using Clojure-inspired maps, allowing optimizations to be neatly expressed as functions from one graph to another. Using these persistent data structures also means that the source program doesn't change while the residual program is being created, eliminating one class of problems that the optimizer writer has to keep in mind. Together we will look at some example transformations from an expressiveness as well as a performance point of view, and we will also cover some advantages which a traditional SSA graph maintains over CPS soup.

Optimizing with persistent data structures (LLVM Cauldron 2016)

Igalia

Initial Conditions (25 points total) Consider a firm that has the following relationship between labor and output, i.e., a production function. Along this production function, we hold land, capital (K) and technology (total factor productivity) fixed. Fill in the following table (5 points). TABLE 1 L Q MP L MRP Marginal Profit Total Profit 0 0 - - - 0 1 8 2 20 3 28 4 35 5 41 6 45 The current wage is $150 and the price of output (Q) = $20 . [1] (5 points for i through iv) i. The profit maximizing output is _______. ii. The profit maximizing level of labor input is ________ workers. iii. The maximum profit for this firm is __________. iv. What is the marginal revenue product of the 6 th worker? ___________ b. (10 points for correct and completely labeled diagram with points A, B, C, D) Draw the production function associated with the table above. Note, labor (L) is the variable on the horizontal axis and output (Q) is the variable on the vertical axis and locate this initial point as point A. c. (5 points) Now draw the W / MRP labor market diagram (associated with Table 1 above) as we did in lecture being sure to be clear on the areas that represent labor costs, MRP, and the marginal profit or loss – use the "smoothed out version" rather than the barchart version (use different colors if at all possible). You will need to draw a total of three of these 'initial conditions W / MRP la bor market' diagrams (point A). Be sure to watch the Homework 5 Explanation video in the Homework 5 folder in ANGEL for some guidance on the rest of the Homework Assignment. We are now going to consider 3 different scenarios. We treat each scenario as independent events. You will start off with a new W / MRP labor market diagram for each scenario with these same initial conditions. Specifically, we start at point A and then depict and explain what happens when we go from scenario to scenario, much like we did in the lectures. That is, once we evaluate each scenario, we return back to the original conditions and then consider the next scenario. Scenario # 1: (25 points total). Suppose that due to favorable economic conditions, the price that this firm can sell its product for rises to $22. Fill in the following table. Solve for the new profit maximizing output and profit (5 points). TABLE 2 L Q MP L MRP Marginal Profit Total Profit 0 0 - - - 0 1 8 2 20 3 28 4 35 5 41 6 45 The current wage is $150 and the price of output (Q) = $22 . a. (5 points for i through iii) i. The profit maximizing output is _______. ii. The profit maximizing level of labor input is ________ workers. iii. The maximum profit for this firm is __________. b. Locate this change in conditions as point B on the production function you drew in part 1b above. c. (10 points for correct and completely labeled diagram with points A, B, C, and D) Now construct a supply curve as we did in lec.

Initial Conditions (25 points total) Consider a firm that ha.docx

altheaboyer

Paper

sonia gupta

Ähnlich wie For each production function shown below, a)prove algebraically whet.pdf (17)

8th Semester Mechanical Engineering (June/July-2015) Question Papers

22424roduction Slides 33623-1.ppt

Functionsbsitact

Econ 281 Chapter06.ppt

3rd Semester Mechanical Engineering (June-2016) Question Papers

8th Semester Mechanical Engineering (June-2016) Question Papers

Eco

CH6 Production.pptx

Production analysis me

Unit 2

simba nyakdee nyakudanga presentation on isoquants

Gregory mankiw macroeconomic 7th edition chapter (3)

16083116

Units 2&3 prod. & cost functions

Optimizing with persistent data structures (LLVM Cauldron 2016)

Initial Conditions (25 points total) Consider a firm that ha.docx

Paper

Mehr von info788195

For the circuit below, find the transfer function H(s) = V0Ig For t.pdf

info788195

For some reason, sometimes when I log in the top panel applets appear garbled. For instance the session applet is missing its icon, and the current username is repeated twice. This doesn\'t happen very often, but when it does the session applet is not responsive so I can\'t get to the log out menu option. Is there any other way to log off the current user other than using the (non working) session applet? Solution Press Alt+F2, type gnome-session-save --logout, then hit enter. If an application is blocking logout, try gnome-session-save --force-logout.

For some reason, sometimes when I log in the top panel applets appea.pdf

info788195

For several years, CSK Auto, Inc., fraudulently reported inflated earnings. During this period, Maynard Jenkins was a CEO. He was not involved in the fraud, however, and was never charged with a crime. Nonetheless, using a SOX provision, the SEC sought to claw back some of his earnings during this period. Should Jenkins be financially responsible for fraud that occurred on his watch, even though he did not participate? Solution Under Sec 906 , the CEO and CFO are punishable for misrepresentation of financial statements upto $ 50 million and /or imprisonment upto 20 years if they knowingly or wifully cretify the report. Here Jenkins was not aware or party to the fraud , so as per SEC rules , SEC cannot penalize him in this case..

For several years, CSK Auto, Inc., fraudulently reported inflated ea.pdf

info788195

For my visual basics class I have to create this project. 1.4 Write a project to display company contact information. Include buttons and labels for the contact person, department, and phone. When the user clicks on one of the buttons, display the contact information in the corresponding label. Include a button to print and another to exit. Include a label that holds your name at the bottom of the form and change the title bar of the form to something meaningful. You may change the Font properties of the labels to the font and size of your choice. Follow good naming conventions for object names; include remarks at the top of every procedure and at the top of the file. Solution namespace HelloWorld { partial class MainPage { public MainPage() { InitializeComponent(); } private void HelloButton_Click(object sender, RoutedEventArgs e) { DisplayText.Text = \"Hello World\"; } } } \' Visual Basic Partial Public Class MainPage Public Sub New() Me.InitializeComponent() End Sub Private Sub HelloButton_Click(ByVal sender As Object, ByVal e As RoutedEventArgs) DisplayText.Text = \"Hello World\" End Sub End Class // C++ MainPage::MainPage() { InitializeComponent(); } MainPage::~MainPage() { } void HelloWorld::MainPage::HelloButton_Click(Platform::Object^ sender, Windows::UI::Xaml::RoutedEventArgs^ e) { DisplayText->Text = \"Hello World\"; } A Hello World app is good place to start. But it doesn\'t take you very far down the road to profitability, so we\'ll take a different path as we explore building Metro style apps for Windows Developer Preview. The sample app that we use to get started is a simple blog reader that downloads and displays data from an RSS 2.0 or Atom 1.0 feed Answer Rating: 4 Stars worked somewhat not downplaying your idea though Answered by Anonymous 5 weeks ago namespace HelloWorld { partial class MainPage { public MainPage() { InitializeComponent(); } private void HelloButton_Click(object sender, RoutedEventArgs e) { DisplayText.Text = \"Hello World\"; } } } \' Visual Basic Partial Public Class MainPage Public Sub New() Me.InitializeComponent() End Sub Private Sub HelloButton_Click(ByVal sender As Object, ByVal e As RoutedEventArgs) DisplayText.Text = \"Hello World\" End Sub End Class // C++ MainPage::MainPage() { InitializeComponent(); } MainPage::~MainPage() { } void HelloWorld::MainPage::HelloButton_Click(Platform::Object^ sender, Windows::UI::Xaml::RoutedEventArgs^ e) { DisplayText->Text = \"Hello World\"; }.

For my visual basics class I have to create this project. 1.4 Writ.pdf

info788195

For each of the following, identify whether it would be disclosed as.pdf

info788195

For each of the following cases, indicate the filing status for the taxpayers. 1) Linda is single and she supports her mother (who has no income) including paying all the costs of her housing in an apartment across town. Frank is single and he has a dependent child living in his home. 3) Arthur is single and he supports his 30-year-old brother, who lives in his own home. 4) Leslie\'s final decree of divorce was granted on June 18, 2014. She has no dependents. 5) Tom and Carry were married on December 31, 2014. Solution Answer:- 1) Linda is single and she supports her mother (who has no income) including paying all the costs of her housing in an apartment across town. Linda should file as Head of household because she is solely responsible for paying all of the costs of her and her mother’s living expenses. Filing as head of household offers rates that are lower than those for single and married filing separately. 2) Frank is single and he has a dependent child living in his home Frank should file as head of household since he is an unmarried taxpayer with a child whom he provides more than half the support for. 3) Arthur is single and he supports his 30-year-old brother, who lives in his own home Since Arthur’s brother meets the qualifying relative criteria, Arthur can file as head of household instead of single since he supports his brother fully. 4) Leslie\'s final decree of divorce was granted on June 18, 2014. She has no dependents. Leslie should file Single since she has no dependents and she wasn’t still married Dec 31, 2010 5) Tom and Carry were married on December 31, 2014. Tom and Carry could do one of two things. They could file a married joint return since they were married Dec 31,2010 or they could elect choose the option of married filing separately if it reduces their total tax liability.

For each of the following cases, indicate the filing status for the .pdf

info788195

For comparison reasons, why is standardization of costs usedWhat .pdf

info788195

For calculating economic growth of a country we need to collect data on which of the following? I. nominal GDP II. real GDP III. prices IV. population1)either I or II Solution Economic growth can be calculated in nominal or real terms. The formula is: Growth rate = GDP of year2-GDP of year1 / (GDP of year 1). GDP in the above formula could be either nominal or real. Hence either nominal or real GDP are requires. Therefore option 1 (either i or ii) is correct..

For calculating economic growth of a country we need to collect data.pdf

info788195

Mehr von info788195 (8)